Stacy Summary: We are still at the very, very, very beginning of the global debt collapse. Until all this debt that can’t be paid is written off, we are going to be trapped in this state for decades.
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Rick Ackerman-
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crash banksters – Buy Silver & gold
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Most recent: 
There are ominous noises emanating from the deep subterranian basements of Wall Street and elsewhere. This is where the files on toxic assets are stored, the company morgue. Trillions of phantom shares resulting from past naked short selling, a scam called ‘Cellar Boxing’ a scheme invented by a deranged (he eats insects) psychopathic professor of economics, who is now cared for in a lunatic asylum. These files are known as “The Zombie Files” and catalogue the thousands of dodgy deals that constitute the ‘quadrillion dollar debt’. Some of these companies, (where a $100 can buy you a million shares), are still alive (just) ‘undead’ would be a better description, (buried alive), CmKm Diamons Inc. for instance have recently filed a $3.85 Trillion Lawsuit against the regulators…$2.2 Trillion of Her Majesty’s Gold has gone walkabout somewhere in the Australian outback called ‘Snake Hill’….Yes indeed, strange and terrible noises from the sub-basements of Wall Street….The Zombie Files are alive again.
June 16, 2008
“Citigroup Settles SEC Charges Relating to Argentina Crisis
The SEC and Citigroup settled charges regarding Citigroup’s accounting relating to the impact of the economic and political crisis in Argentina on the company’s operations during the fourth quarter of 2001. In the latter part of 2001 and continuing into 2002, Argentina experienced a severe economic and political crisis during which, among other things, the Argentine government defaulted on certain of its sovereign debt obligations, devalued its currency, and abandoned the one-to-one ratio between the Argentine peso and the United States dollar. The actions of the Argentine government during the crisis required Citigroup to make a number of significant accounting decisions for the fourth quarter of 2001. Citigroup was required to account for (1) the impact of the company’s participation in a government-sponsored exchange of Argentine government bonds for loans (the “Bond Swap”); (2) the value of Argentine government bonds held by Citigroup that were not eligible for the Bond Swap (the “Non-Swapped Bonds”); (3) the sale of Banco Bansud S.A. (“Bansud”), the Argentine subsidiary of Banco Nacional de Mexico, S.A. (“Banamex”), which Citigroup had acquired in August 2001; and (4) the impact of government actions that resulted in the conversion of over $1 billion of Citigroup loans from dollars to Argentine pesos. According to the SEC, Citigroup accounted for each of these items in a manner that did not conform with generally accepted accounting principles (“GAAP”) and overstated its income reported in the company’s earnings press release included in a Form 8-K filed with the Commission on January 18, 2002, and in the company’s annual report on Form 10-K for 2001 filed with the Commission on March 12, 2002.
Without admitting or denying the allegations, Citigroup consented to the entry of an Order Instituting Cease-and-Desist Proceedings, Making Findings, and Imposing a Cease-and-Desist Order Pursuant to Section 21C of the Securities Exchange Act of 1934 (“Order”).”
http://lawprofessors.typepad.com/securities/2008/week25/index.html
“Update of March 1, 2004: now here’s a scary thought: Citigroup, with its predatory lending settlements, is moving to because THE credit history bureau in China. The American Banker newspaper reported last week that “China has no credit bureau, so Citi will gather information on applicants and try to act like a fledgling bureau. Most Chinese consumers do not have experience with revolving credit, so Citi will hold seminars on managing credit wisely. ” If this “training” is anything like what CitiFinancial does in the United States, the Middle Kingdom will be rife with predatory lending – perhaps even class action lawsuits, and captured regulators, one day… Meanwhile, JAGfn of Feb. 26 reports that Lehman Brothers ” recently met with the management of Citi’s Japanese consumer finance operation, CitiFinancial Japan (CFJ). Although a small portion of overall earnings, with improvement in other areas, it has spotlighted areas of remaining weakness like CFJ. We came away impressed that the business has been stabilized, restructuring steps are now complete.” Yep, Citi is taking predatory lending GLOBAL…”
http://www.innercitypress.org/citi.html
Stanley Fish was president of international operations for Citigroup during the Chinese seduction.
http://www.group30.org/bios/members13.htm
Stanley Fischer:
member G30
“Stanley Fischer has been Governor of the Bank of Israel since May 2005. Prior to joining the Bank of Israel, Prof. Fischer was Vice Chairman of Citigroup from February 2002 through April 2005, where he was also Head of the Public Sector Group from February 2004 to April 2005, Chairman of the Country Risk Committee, and President of Citigroup International.
Prof. Fischer was the First Deputy Managing Director of the International Monetary Fund, from September 1994 until the end of August 2001. Before he joined the IMF, Prof. Fischer was the Killian Professor and Head of the Department of Economics at MIT (Massachusetts Institute of Technology). From January 1988 to August 1990 he was Vice President, Development Economics and Chief Economist at the World Bank.”
@GGEES
orly?
Stanley Fischer is an ass wipe and his comments are BS
LOL @ bowel movement!!
@ Y’all
Question:
Does anyone know Y the Industrial Revolution failed to take root in the East as quickly as it did in the West…?? I realise some basic reasons but anyone know of good literature explaining this ? tx
Stanley Fischer on China
Part 1
http://www.youtube.com/watch?v=D2jE5ExuGXk&feature=related
Part 2
http://www.youtube.com/watch?v=amDWTBr3lIo&feature=related
@ dan
if money goes digital
selling gold might prove difficult,
bartering is near impossible to stop though
A venerable & highly important voice
Stanley Fischer, governor at Bank of Israel , Davos ’10
http://www.youtube.com/watch?v=yXiiGK9Pw8s
STRATFOR http://bit.ly/bxNZ1x. Call it a Financial Fourth Reich
Confiscation of gold makes economic sense if you want to delay dollar collapse but politically impossible, like taking guns.
@gordo
the populists first got co-opted by the right
so that they could be branded racist by the left.
A one two punch to the people’s gut.
Speaking of house problems…
that stupid tower in Dubai has been shut DOWN… electrical problems, I think
http://www.telegraph.co.uk/news/worldnews/middleeast/dubai/7189379/Dubai-skyscraper-Burj-Khalifa-closes-to-public.html
I just read a new paper on The Austrian Business Cycle Theory regarding Banks that have 100% reserve requirements and whether or not that would prevent a Boom and Bust cycle…
The conclusion of the paper is that it WOULD NOT, since the key problem is something called Maturity Mismatching which in essence means that short-term liabilities (your demand deposits) are used to finance long-term loans… and if they are not rolled over, where does the financing for the loans come from???
I highly recommend reading it, since it is only about 15 pages…
http://libertarianpapers.org/articles/2010/lp-2-2.pdf
If the movement allows people like Palin and Beck to co-opt it. The best they will get is a bowel movement.
I think the reason the GOP wants Ron Paul out is he is anti War. He draws focus to a real issue. You don’t want that.
So Pallin, who last ran for the incumbent party, is being sold as the leader of reform? only in america
@Underfunded….Viva La Revolution!!!
BIS Speaks to commoners
http://news.theage.com.au/breaking-news-business/rba-rates-rises-kept-system-stable-bis-20100209-np84.html
@Y’All
I gotta hide under the covers now I think I hear my momma coming up the stairs… and oh yeah I don’t click on unamed links Y’All… coz I got a life and I aint that curious about Y’All or ya silly games… but Y’All probably knew that anyways OK BYE!!!
@ dan
The movement loves ron paul,
it’s the ‘party’ that fears him.
Maddow: Is The Tea Party Movement Trying To Get Rid Of Ron Paul?
http://www.youtube.com/watch?v=UqTkt1iX1fM&feature=player_embedded
Give activists fair trial, Greenpeace demands
JAKARTA (Kyodo) Greenpeace activists staged a protest outside the Japanese Embassy in Jakarta on Monday to call for a fair trial of two of their colleagues in Japan who were arrested after exposing the alleged smuggling of whale meat under a government-sponsored research whaling program.
http://search.japantimes.co.jp/cgi-bin/nn20100209a6.html
Eric King Interviews Madoff Whistleblower Harry Markopolos
http://kingworldnews.com/kingworldnews/Broadcast/Entries/2009/5/29_Harry_Markopolos.html
@super g
This one’s for you my angry white man! A fool-proof post.
http://www.youtube.com/watch?v=e4sW3MgdJLo&feature=related
you know,
you’re pretty cute when you’re angry
Haven’t you heard of medicinal cannabis? it’s great for cramps, just ask the queen.
Seriously, from one angry white male to another,
it’s helps harness the angst.
Just sayin’
@Pez
Cheers for that … I’m guessing it’s the same story I saw that last tuesday on my laptop!!!
http://www.telegraph.co.uk/news/newstopics/howaboutthat/7129952/Cat-predicts-50-deaths-in-RI-nursing-home.html
japanese Govt looks to block ban on trade in bluefin tuna
The government is increasingly concerned about a recommendation issued by the Washington Convention’s secretariat Friday that urged the treaty’s signatories to adopt a proposal by Monaco to ban trade in bluefin tuna in the Atlantic, according to sources.
Japan is the world’s largest consumer of bluefin tuna and is set to boost diplomatic efforts to urge signatories to the treaty, formally called the Convention on International Trade in Endangered Species of Wild Fauna and Flora, to reject the proposal at the March 13-25 meeting in Qatar, the sources said.
http://www.yomiuri.co.jp/dy/business/T100208002967.htm
Moon, sun ‘could help trigger powerful earthquakes’
http://www.yomiuri.co.jp/dy/national/20100209TDY03104.htm
Japanese Prime minister, brother top list of lower house asset holders
http://www.yomiuri.co.jp/dy/national/20100209TDY02304.htm
SG, Good to see your still at home and on your computer.
Japanese ask: Is US backlash behind Toyota woes?
http://mdn.mainichi.jp/mdnnews/business/news/20100208p2g00m0in011000c.html
Trade war coming?
Toyota To Notify Japanese Govt Of Prius Recall and more in Japan, on Tuesday
http://www.nni.nikkei.co.jp/e/fr/tnks/Nni20100209DA9J2094.htm
@SG
Gad zooks! Did you say grim reaper? A cat that sees dead (soon to be) people. heeheehee lol
http://www.nypost.com/p/news/national/nursing_home_cat_can_predict_impending_X4oLhF13oAjRhcGdw6pExN
@Y’ALL
I find it hard to take anyone that seriously who is scared or unwilling to leave the HOUSE… the stench of rotting OLD ideas and an imagination eaten by FEAR… people who probably haven’t even seen the light of day this century SCARED to LIVE or LEAVE their computers ALONE for a single DAY…. no LIFE or IDEAS outside of their COMPUTER…. as I have said before people with no time for any real critical thought., no time for reflection, no time for REAL EXPERIENCE…. TOTALLY obsessed with POST and LINK, POST and LINK… confusing INFO with…………..HA, HA,
HA!!!
Time to reflect??????????? Time to put in a garden !!!!!!!!
Farming is booming over here…its like the gold rush!
The influx of Chinese trying to buy farm land in the past yr is crazy, my friend handles property that was defaulted on and the bank auctions off and he said the buyers are Thai nationals with foreign backing cause only Thais can own property….More farm land was sold last yr than in the past 10yrs!!!!
You can’t take anything you read too seriously whatever the source: but it is good to taste new ideas and to hope beyond the bounds of intolerance.
The forces at play in our world now are extraordinary. Time for reflection and action is at hand.
In 1950′s the question was “Who lost China?” Starting now, we need to ask, “Who Lost Ukraine?” http://bit.ly/aZPjV3
Faber Says U.S. Would Be Rated Junk if It Were a Company
http://www.bloomberg.com/avp/avp.htm?N=av&T=Faber%20Says%20U.S.%20Would%20Be%20Rated%20Junk%20if%20It%20Were%20a%20Company&clipSRC=mms://media2.bloomberg.com/cache/v9feFJPBWjm0.asf
This is an issue with regards to JamesGRickards…more the company he keeps…as in one Zachary G. Warfield is a founder and a member of the Board of Directors for Omnis, Inc. Mr. Warfield is responsible for major research initiatives and is an expert in finding novel solutions to difficult problems. In addition to helping steer the company, he is directly involved in numerous Omnis projects, including analytic training and technology consulting.
Prior to founding Omnis, Mr. Warfield was an engineer and analyst for the U.S. Government and private industry. As a science and technology analyst, Mr. Warfield assessed missile and space systems, managed technical contracts, and investigated Iraq’s Weapons of Mass Destruction (WMD) program as a member of the Iraq Survey Group.
As an engineer, Mr. Warfield worked on aerospace projects for the National Aeronautics and Space Administration (NASA), the Defense Advanced Research Projects Agency (DARPA), and private industry. Most notably, Mr. Warfield contributed to the development of the Mars Exploration Rovers—Spirit and Opportunity—and conducted research on unmanned combat air vehicle (UCAV) prototypes.
Mr. Warfield earned his M.S. in aerospace engineering from the Massachusetts Institute of Technology (MIT) in 2001and a B.S. in mechanical engineering from the University of Notre Dame in 1998.
Zack’s interests include outdoor activities—such as adventure racing, golf, and mountaineering—and travelling.
I emailed him and asked if he found any WMD….no reply yet!!!!
@Y’ALL
this is why you can’t take anything you read on the internet too seriously…. it’s worse than old people waiting around for the GRIM REAPER…. just SITTING in the same spot all DAY…. going on about their FEARS, PERSONAL PROBLEMS and constantl having to resort to EMOTIONAL BLACKMAIL just to get some attention and sympathy!!!
Is the recent gold/stock positive correlation starting to break down? Stocks down, gold up, so far today http://bit.ly/bHo5pd.
There’s no prize, Dedo. I ate all the yucky cereal, and the box is empty.
Tea Bagger Tancredo Yearns for Return of Jim Crow-Era ‘Literacy Tests’ at Polling Place
No racism here!
“The opening night speaker at the Tea Party convention suggested a return to a “literacy test” to protect America from presidents like Obama”
http://www.bradblog.com/?p=7687
“Who or what are you suggesting in their place? Utopia? Displaced lunch ladies?”
Control of the resources by the natives of the country for their own enrichment. Displacement of the international banking interests from third world countries. Dislocation of the central banks from sovereign wealth. Dismantling of the IMF finance ministers proxy entry into each nation’s finance. Dismembering of the UN agencies and their control over the poor.
Not necessarily Utopia, but a much better alternative than the kind of happiness the World Bank has in mind for us.
Why are we willing to continue to be governed by banks?
@Frances,…..From Cradle to grave,..as is said
“Finally, policymakers need an index of sustainability. That would assess what stocks of natural resources are needed for a certain level of social well-being and whether current patterns of use will deplete needed supplies too quickly”
It’s all coming together huh,…
Every aspect of life will be monitored, to help the planet of course,.
Mumbo Jumbo I prefer Gumbo. Theses numbers are underestimated. It’s probably double. You heard it here.
The arbitrary indicators decided upon by Stiglitz and Amartya Sen look set to be included in ‘GDP’ which will be a part of a region’s reserve status within the sdr system.
“The groundswell of criticism is now yielding some high-level results. Soon the OECD–the group of rich countries–will introduce a series of new measurements aimed at going beyond GDP. In October, a commission appointed by French president Nicholas Sarkozy and co-chaired by Nobel prize-winning economists Joseph Stiglitz and Amartya Sen issued a report on “the measurement of economic performance and social progress.”
Stiglitz and Sen find that the GDP fails to provide a good guide to a nation’s well-being on several counts, and they propose that countries rely on a group of indicators, not just a newly revised GDP.
First, they fault GDP calculations on technical grounds. For example, government activity now makes up roughly 40 to 50 percent of most rich nations’ economies, but the current accounting of GDP does not accurately reflect governments’ role.s
More significantly, Stiglitz and Sen argue that a real measure of national well-being requires assessment of the quality of life, the degree to which individuals have opportunities to develop their own talents, and the environmental sustainability of the system—all of which are ignored by the GDP and may or may not increase as it grows.
As a first step toward reform, Stiglitz and Sen propose focusing more on inequalities of income, consumption and savings of individual households. They also argue that it’s important to count work done in households that isn’t part of the market economy.
Equally important, a new index should measure how broadly human capabilities are developed, a standard that would certainly include not only education but also gender and ethnic discrimination. It’s a critical measurement, Stiglitz and Sen say, since 80 percent of all wealth is in the form of “human capital.”
Finally, policymakers need an index of sustainability. That would assess what stocks of natural resources are needed for a certain level of social well-being and whether current patterns of use will deplete needed supplies too quickly. Stiglitz and Sen want a separate indicator of pollution rather than include pollution costs with resource sustainability, as many “green GDP” measures do. They argue that such a mixed index is as useless as a car gauge combining measures of speed and fuel consumption on the same dial.”
http://inthesetimes.com/article/5456/gross_inaccuracies
Could this be why Obama is so pro-college despite the disadvantage economic outlook? This is hegemony at its absolute worst: brought to us through the new international system.
gold and silver are one way to do it. But to really play it safe I’d go the extra mile and have some land where you can grow food. And be well armed away from the masses and living around good down to earth people.
CAn you imagine if anything were to go wrong with the food distribution in the usa or world. Or electricty goes down. The system we live in now is really very fragile. Anyway. Better safe than sorry.
All my relatives haven’t a clue to these things. They don’t realize the system of food and electricity we have now was just built in the last 90 years. Before that it was grow it yourself mostly and candles.
Here’s how the powers look set to control the people:
http://inthesetimes.com/article/5456/gross_inaccuracies
Re: Trichet
Nothing to see here, move along…
“Trichet left early in order to make better flight connections and declined to comment further”.
http://www.bloomberg.com/apps/news?pid=20601087&sid=aU4ua3OE7420&pos=7
It would seem that the current limited currencies represented to value the SDR is far too limited to represent current trade flows so a revaluation seems to be a necessity. I would not be surprised to see the Chinese and Indian monetary units added (possibly also the Canadian and Australian $)
ECB’s Trichet Leaves Sydney Early For EU Meeting
http://www.gfmag.com/latestnews/latest-news.html?newsid=3689610.0
@SherriYoung. you voting? good luck with that. just saying.
@ Palantiri
Guess we can assume that they applauded because the topic of the national debt is less likely to come up during at election time.
They thought wrong.
@ frances,
I’m used to it, you can’t take on board any point of contradiction so block them all out. Carry on.
Perhaps I was, I know you mentioned it previously, here:
Bookmark it if you like.
I wouldn’t compare someone disagreeing with you to ‘the wrath of Olympus’, I agree gold can get boring, even if it is a significant commodity. I notice the site no longer has the gold bars header. SDR’s can get equally boring, even if they look like becoming key to significant reforms of the international financial system. Sometimes gold is relevant, sometimes SDRs are, otherwise they’re both pretty boring.
I did link to relevant discussion, you ignored the links to Martin Wolf’s opinion on SDRs, but then you’d already said he ignores the issue, when commenting on an article in which he specifically mentioned his support for the Chinese proposition.
I asked you what G20 membership you would approve of, not what you’d like to do with the current membership. Who or what are you suggesting in their place? Utopia? Displaced lunch ladies?
I stumbled upon this few day old thing, it may have been posted before I do not know, but it is still a odd thing to watch or rather hear…
House Democrats Applaud Passage Of $1.9 Trillion Debt Limit Increase
http://www.youtube.com/watch?v=O81UD-ti4dk
They are really cheering and applauding for the magnificent work of raising the debt limit, splendid work, almost as if (at least) they have achieved something…
Anyway, It could have been a really nice clip to be used on one of the TKR or OTE shows but C-Span turns down the volume when the applaud comes and I haven’t been able to find any clip without the lowering of volume.
you know its all unfolding on TV and everyone is saying as long as it aint me. big trouble. SDR’s may not haunt us. i love you snoot.
@Snoot. may i. that’s when the human spirit kicks in. its coming. never underestimate the mass. i think the bigs want this. fun to watch? money won’t matter where it comes from. gonna be a mess. gotta be. televised. get a mirror.
Frying Popcorn using 3 – 4 mobile telephones …
http://www.dailymotion.com/video/x5odhh_pop-corn-téléphone-portable-micro-o_news
The Monopoly “board” is actually the “US$ game” itself !
And the game is owned by the sdr-unit masters.
“If the dollar dies, gold will certainly be worth more in $ terms, but in €, £ or Y, who knows. They’re all fiat currencies. Why do you think a dollar collapse would entail a devaluation of gold?”
I hope the above indicates a turn at being capricious, Harry. Either that or you are truly completely ignorant of the workings of the dollar/reserve system with sdr at center.
A move to sdr/reserve would precipitate a delinking of the fiats from their export profit. The price system under which gold precently finds value would utterly collapse. Regional currencies would be neutered. Assets linked to currencies would hyperinflate. SDR would retain value: gold is not priced in sdr. Assets pegged to sdr would retain value and viability.
really want some land near kililou ontario. algonqin park area. too cold for most. figure on going soon.
@Harry … (Not that I imagine Sterling would still be around if the Dollar actually did collapse…in those circumstances the international system would probably be overturned by the US anyway, like a loser in Monopoly overturning the board).
I’m impressed … such a short and concise sentence that says basically everything.
The Monopoly “board” is actually the “US$ game” itself !
@Mike. i hold a lot of 12 dollar silver. i like it better than gold.
@Mike. they are nuts you know. hope we get to use our metal.
Eveing Ron
http://www.independent.co.uk/news/uk/politics/forget-cuts-and-keep-spending-brown-told-1893307.html
Mike
and that’s why they call her the champ. hahaha.
I would prefer that the institutions on the membership roster all be disbanded entirely forever and that the banking representatives all become lunch ladies in an American middle school.
“Blah blah blah, Frances. Demystification, blach, blah blah blah, Frances. Bloop, blooper, blah, beepbeep, blah blah blah, Frances.”
Thank goodness your name ISN”T Stacey, Harry. What would Max do with that rhetoric for a sidekick?!
O,BTW: I think you were commenting on my introduction of the reweight of the sdr with this mention:
“As has been pointed out here, the composition of the basket is due for review in 2010; the last review also confirmed the rules for IMF rates on SDR loans (a weighted average of 3 mth rates in the basket currencies).”
Whoooo would point it out but I?
And do please link any relevant ‘discussion’ I might miss: it seems I only provoke the wrath of Olympus with my predilection to discuss the relevant issues instead of focusing on the price of gold gold gold.
Last post format corrected:
…The Federal Reserve isn’t an international institution, I explained that’s the difference between it and the ECB above. Did you miss the point?
The dollar used to be fixed to gold, until Nixon. The value of each is now moves separately. If the dollar dies, gold will certainly be worth more in $ terms, but in €, £ or Y, who knows. They’re all fiat currencies. Why do you think a dollar collapse would entail a devaluation of gold?
I haven’t ignored the entire international financial system and the reform ongoing this year, I’ve discussed them with you at length, despite your objections to having that discussion. I specifically pointed out the re-
More needless mystification frances?
That’s just a link to the EU website. Is there something relevant to this discussion there? Or is the link there in place of a point?
@ME. if you want to see wind farms. come to lake huron, georgian bay area. thousands of windmills. useless. too bad. lotta debt went into them. people still think there spending money. all debt. blows me away. nobody gets it. participate in your demise with a fucking smile. fuck. too much. still love stella.
@ frances,
Is there a particular membership you would approve of? Possibly a preferred seating arrangement?
Is it just the absence of the Fed from the institutional list that bothers you — no other state central bank is, so why should the US and the Fed be special?
I joined the meeting of dutch politicians about energy again tonight…It mostly was a consultancies indoctrinationfest for smart grid and offshore windfarms, but when the discussion came to european and local law an energy CEO (I talked to him later) asked whether it had been considered our politicians use war authorities. War authorities to force the change in energy production and consumption.
frances,
My name ain’t stacey, but you can call me whatever you like.
What’s ‘power finance’? It sounds indefinable. The SDR is already a small component of international reserves, the Chinese proposition, which won support at the G20 is to expand that. There are also proposals for global financial regulations/regulators such as an international clearing union. Are you in favour of completely unregulated global financial institutions, what would you suggest?
If the dollar does indeed “collapse” then the Euro, Yen and even Sterling make up a larger proportion of international reserves than SDRs. (Not that I imagine Sterling would still be around if the Dollar actually did collapse…in those circumstances the international system would probably be overturned by the US anyway, like a loser in Monopoly overturning the board).
It’s a long establish fact, it matters, but most media is more concerned with trivia. You’ve accused commentators like Martin Wolf of ignoring SDRs when they actually testified to a US Senate Committee on the matter, and managed to miss his views expressed in an article stacy posted. So I think you’re probably missing much of the discussion that does go on, in parts of the media and academe concerned with international monetary policy.
I know, I pointed out the soon-upon-us reweight to you, though you didn’t seem interested in that at the time. That was in a discussion where you urged me to ignore your posts, and eventually said you’d don’t care to post here any more. So much for your interest in discussion.
The Federal Reserve isn’t an international institution, I explained that’s the difference between it and the ECB above. Did you miss the point?
@SG. no to mining and no to haarp. neither. but the rape is on now. peace please.
@Y’ALL
The Police – Demolition Man.
http://www.youtube.com/watch?v=uKKktLLrag4
“That’s the point, sovereign states are the basic unit of the international system, that’s the underlying explanation for the ECB being represented among international institutions at the G20, while the US Federal Reserve isn’t. frances asked why, and that’s why.”
Bollocks.
That’s Harry’s take. Where’d he get that ideedee? The Euro is a regional currency represented by individual ‘sovereign’ states which states are each individually represented by the Finance minister and by the central bank head of each state within the G20. The ECB perhaps could be called a suprasovereign institution, but the listing is for INSTITUTIONAL members, not international members.
And the institutional list sucks anyway: the allstars of colonial hegemony.
And please note that the entire structure is made up of Bankers and Banks. That is our governance.
snoot doesn’t run my life. yet.
@Y’ALL
Did mining and oil drilling trigger Haiti earthquake?
http://www.youtube.com/watch?v=hfI9B8e9tW4
@Youri. billions of money (debt). hahahaha. good one
Euro more robust than the USD http://www.youtube.com/watch?v=qT0Idd74Iz8
@harry. you better talk to snoot about that don’t you think. i don’t know. what is this divide and concur. i addressed you and made it clear. maybe you should think before you type.
@ ronron
billions of money
@ ronron
You reminded me that I wanted to share this link to an important video on sugar, but fructose in particular. Seems the liver deals with fructose almost exactly as it deals with ethanol and high fructose corn syrup is darned near omnipresent in our processed foods and beverages. There’s a lot more. The speaker is a faculty endocrinologist @ UCSF.
Hope MEP and Cal Doc see this too.
Sugar: The Bitter Truth
http://www.youtube.com/watch?v=dBnniua6-oM
@ ronron,
That’s the point, sovereign states are the basic unit of the international system, that’s the underlying explanation for the ECB being represented among international institutions at the G20, while the US Federal Reserve isn’t. frances asked why, and that’s why.
@Youri. billions of what? sorry i think she’s hard times for all now. hope i’m wrong. sometimes wish i was stupid.
“Do you think it’s something that’s been arranged by sinister forces simply to do the US down? The US is represented in the G20, as are the major EU states, so they all agreed to the arrangements.”
Mankind will be done down, Harry. Utopia will not proceed out of Europa.
http://europa.eu/index_en.htm
@ronron
Cause whole our economy is build on fossil fuels not only for transportation but everything like plastics, fibers for clothings etc….
We should spend billions on Sun power use research but that causes a dilemma for the powers that be cause than we would get independent and they don’t want that. That’s why they come up with BS solutions like Bio-fuels which actually kills people cause it creates food shortages as we speak. Bio fuels misuses loads of agri cultural grounds which could produce food. Stupid but people and especially governments are quite stupid unfortunately.
SUN SUN SUN !!!!!!!
i knowed that harry guy was in trouble. snoot, i still like to smile and laugh. haha
Peril, trouble, doom, collapse…
And what does the TV show me?
Lame-ass Superbowl ads. Oh boy!
@HarryW:
Since when is your name Stacey?
“Big things monetary are indeed happening, but they don’t reflect a conspiracy of central banks to enslave the poor innocent US, they just reflect the decline in economic-financial power of the US (and UK, EU PIIGS etc).”
I never indicated that there was a ‘conspiracy of central banks’. That is your take on what I wrote.
I indicated that the move in power finance is to a reserve system with sdr, and to a global regulator (aka international clearing union).
If the dollar does indeed “collapse” then the defacto reserve would be sdr.
I think it is ‘sinister’ that more discussion (there is no little or none) is not directed toward the eventual and soon-upon-us reweight of the sdr. The scrutiny is upon the Federal Reserve, which is not given preferred institutional status in the G20 system, as per indicated by the link you referred to.
This site maintains that gold will continue as a monetary asset through its ability to retain value over time. This site also maintains that the dollar is due to become devalued completely. The two ideas maintain a contraindication: if the dollar is no longer reserve currency, gold will be devalued.
To say otherwise is to ignore the entire international financial system and the reform ongoing this year.
@Youri. if they ration gasoline, that’s economic hell. make sense?
@Youri. thanks for the billie holiday memory.
@Ray
Tip ray , you always can find Bobs articles here: http://www.theinternationalforecaster.com/
@Harry. my opinion and no others. there is no one looking out for any sovereign state. she’s a big club and we ain’t in it. there is no one representing you. sorry. this is zero hour. 5 years tops.
http://www.marketoracle.co.uk/Article17070.html
This article sums up the USA fairly well. Long but, worth the read. Freaken crooks, It won’t be long and civil unrest will occur.
@ronron
Billie Holiday: “…Nice Work if You Can Get It ….and you can get it if you try…” http://www.youtube.com/watch?v=I3jX4WhIW6o
@ frances,
Still on your SDR hobby-horse? ;D
I didn’t notice the proposition being put to stacy, so how could she be either denying or affirming it?
You misunderstand the source of power in international institutions, it arises from sovereign states, rather than international institutions being power centres in their own right.
Big things monetary are indeed happening, but they don’t reflect a conspiracy of central banks to enslave the poor innocent US, they just reflect the decline in economic-financial power of the US (and UK, EU PIIGS etc).
It’s due to the difference between the EU, a Union of sovereign states, and the US, a single federal state.
Do you think it’s something that’s been arranged by sinister forces simply to do the US down? The US is represented in the G20, as are the major EU states, so they all agreed to the arrangements.
@Youri. me too thats why i love Snoot.
Jan. 31, 2010 Joining Art Bell for the entire 4-hour program, physicist Dr. David Anderson discussed the state of time technology from his research, as well as other labs around the world.
Time Technology Pt.1 http://www.youtube.com/watch?v=hhSE8oM-ZMg
@Ray. ya the fed lends money to the banks for 1 point and the banks store it back there at 3 points, nice work if you can get it.
@ronron
Not especially for the hooters I don’t have a “ideal woman blueprint” to keep all my options open you see. It’s more the “the all together” redhead and mouth movements I guess.
http://www.businessinsider.com/henry-blodget-the-feds-exit-plan-is-just-another-secret-gift-to-wall-street-2010-2
One more gift to the bankers
@Youri. that was an old clip. phil didn’t know. no biggy. you like the big boobies i see.
@ronron
yep and we wonna see those 3D scans too.
I vowed never to go through a 3D scanner whatever. But it’s easier for me to say being not in the business. If that means giving up flying I will do that. Fuck Them!
BBC. Cashmere avalanche. video. lotta snow.
@Stacy. can’t you throw together a quick show. i missed you guys.
@Phil /Germany
TnX Phil for that FOXy clip. Godamn that readhead is hot and she’s wearing that green sweater again like last time I saw her. Must be smelly by now mmmmm I can smell you ahahahah!
via a link on Chris Martenson’s site:
http://www.guardian.co.uk/business/2010/feb/07/branson-warns-peak-oil-close
@namarama. the pope i guess is g1
Who decides who is in the G20, The G19. And who decides who becomes a G7 member ? The G6..5….4..fuckin 321…
Who is G1?
What about the G6billion
2/8/2010 Peter Schiff On FOX Business: Hedging Against The FED
http://www.youtube.com/watch?v=OG0or-uZCuk&feature=sub
Faber says it’s near ZeroHour for the US$
Faber Says U.S. Would Be Rated ‘Junk’ if It Were a Company
http://www.youtube.com/watch?v=FMWWaNi_5FY&feature=sub
John
Jonhn Murtha just croaked.
VERY interesting guy & little speech
http://www.youtube.com/watch?v=qT0Idd74Iz8&feature=sub
Feb. 8 (Bloomberg) — Axel Merk, president of Merk Investments LLC, talks with Bloomberg’s Lori Rothman about the outlook for the economies of European Union countries. Merk also discusses the outlook for the euro. (Source: Bloomberg)
Money adviser ‘held prisoner in basement’ – Germany.
http://www.stuff.co.nz/world/europe/3306050/Money-adviser-held-prisoner-in-basement
@namarama. thanks. watch what they eat. teach them all you know.
The winter of America’s discontent: Dissatisfaction with both political parties runs deep http://tinyurl.com/yksd6hk
@Y’ALL
YOU ASK ME WHY!!!
Johnny Cash – The Man In Black.
http://www.youtube.com/watch?v=hfI9B8e9tW4
What’s in your wallet?
http://www.moneysavingexpert.com/news/cards/2010/02/capital-one-in-rate-jacking-move-?utm_source=forum&utm_medium=sidebar&utm_campaign=box
Mike
SYDNEY: British broadcaster ITV was fined by an Australian court on Monday after a rat was killed and eaten on the reality TV show “I’m a Celebrity … Get Me Out of Here.” http://www.reuters.com/article/idUSTRE61727820100208
@Namarama
Goldcore have a Dublin office where you can get paper or physical but the cost is between 6% and 10% and also Brian will know your assets and therefore you will be exposed to a capital gains tax of 25% but if my shiny stuff triples in value I won’t care
*How Bad Do Things Have To Get Before You Do Something?
Fantastic brief video everyone should see. The speaker explains
why we shouldn’t vote Republican or Democrat. Obvious answer or
is it?
http://www.parenting-healthy-children.com/News.html
(scroll down to asterisk
Read this, as it relates to the article posted –
http://www.marketoracle.co.uk/Article16870.html
The idea was to create as much debt as possible in order to do away with the old structure and usher in the new structure. All debt will be written off when the dollar is replaced with the Bancor.
@ Dork.
Interesting take.
btw where do you buy your barbaric metal.
Eire??
Ivy-league Yale University announces a 60% cut in capital spending
Bloomberg: http://www.bloomberg.com/apps/news?pid=20601087&sid=afc3ra1ssBAQ&pos=9
…evidently a lack of revenue coming from normal sources of worthless derivatives and credit-default swaps.
@namarama
Did you see Richard Bruton today speaking about the Nama fiasco today – he mentioned that the government may be following the advice of financial houses – overshadowed by Lees resignation
I believe that the Jesuit educated mandarins are following orders from the ECB and that has filtered down to elements within the Fine Gael elite. The christian brother educated goverment clearly have no clue what is going on and have no input into monetary policey and their only job is to implement budgets to pay taxes for foreign private debt.
Zero hedge reported through the economist Rosenberg that London had over a 150 billion exposure to Ireland – I cannot see how they can be able to extract this amount of wealth from a now poor people but they are giving it a good go
@fran
seems all the roads lead to big private banks that are hiding behind central bank curtains, although their large britches are becoming more difficult to conceal.
Even Ghandi agrees with my barter plan:
http://www.fastcompany.com/blog/william-bostwick/architecture-design/compassionate-counterfeiting-ghandi-approved-zero-rupee-bi
@youri
Damn! not the berries!
these jokers couldn’t make an honest living if their life depended on it,
And it does, and they won’t.
Marc Faber U.S. Would Be Rated Junk if it was a Corporation http://www.youtube.com/watch?v=HgGg7wz17JM
@underfunded:
The moneychangers are only the tentacles for the real omnibus.
For people who missecd it: Funny AccuWeather.com Snowpocalypse Now! Meteorologist Freakout http://www.youtube.com/watch?v=kpxiCxO5k0g
@ snoot
sounds like sudden-death-monopoly,
first one to the top gets the whole pie.
@snoot
Well francis I can’t make up my mind wether these reptiles have nearly full control of events or are trying to steer this fire breathing dragon into their cage – I tend to go for the later but I appreciate your Knowledge of these “guys”.
I will continue to hold the barbaric metal and a secondary postion in some Irish debt until I am proven wrong I guess
@The Underfundedmentalist
It’s gotten even worse cause if you think I am going to live healthy and eat a lot of fruit. Aspartame added to plant irrigation water to sweeten fruit (i.e. strawberries) http://tinyurl.com/yfk5cso
@ Dork.
I think Lee was honestly gutted to learn first hand that politics is ONLY about re-election, and not public good.
Pity cause I kinda like him.
Maybe he’ll start a new party??
@ ronron.
Sorry to learn about your bro, I have three little ones and soda/pop is never allowed in my home.
Now it never will.
@Underfundamentalist:
The FSB is enacting a “race to the top” for private banks.
race to the top=snafu orientation training
The basel 2 daily capital adequacy requirements make banks incapable of lending to private citizens: they neuter them of their prime capacity. The same ‘race to the top’ is destroying public schools in the US with the same peer review and the result of a de-schooled approach to school. It is a way to eliminate the competition: aka make way for the privatized and public roach hotels of Bill Gates/Draghi for elite profit.
@ snoot
it always goes back to the money changers!
Happy Palm Sunday!
casino gulag
Retired Auburn University Montgomery political science professor D’Linell Finley said there will be considerable pressure to tap bingo casinos as a revenue source for General Fund and Education Trust Fund budgets during the current legislative session.
http://www.gadsdentimes.com/article/20100206/NEWS/100209893/1016?tc=ar
fsb charter, this doesn’t sound good, and I fear it will look even worse.
1f) set guidelines for and support the establishment of supervisory colleges
?
1g) support contingency planning for cross-border crisis management, particularly with respect to systemically important firms
??
1h) collaborate with the International Monetary Fund (IMF) to conduct Early Warning Exercises
???
this really puts the ‘mock’ in democracy
@ron or ronda
you really are asking for it… let me make it simple for you… stop making your little snide comments to me when I ain’t TALKING TO YOU and I will have no reason to ever address YOU…. otherwise you can have my address and come over!!!
@Dork:
Under the sdr/system I presume the ECB is set to have a premier role, hence the fight between Draghi and Weber for the star position:
http://www.telegraph.co.uk/finance/economics/7139512/Axel-Weber-and-Mario-Draghi-in-pole-positions-as-fight-for-ECB-succession-starts.html
It’s rather sickening. The rhetoric calls for a removal of colonialism and a voice for the natives. The reality is two criminals fighting like cats for a bank position.
What’zup?
The currency controllers are the true criminals who work for the real power. The other players, including the bankers, are superfluous entities.
The new system is set to do away with paper currency as Greenspan indicated.
@ snoot thanx for g20 link
the only site comcast wouldn’t let me go to was the fsb,
must be gettin close
@Gordo:
The UN article states:
“The crisis has intensified calls by some States for reform of the current global reserve
system to overcome its insufficiencies. We acknowledge the calls by many States for
further study of the feasibility and advisability of a more efficient reserve system,
including the possible function of SDRs in any such system and the complementary roles
that could be played by various regional arrangements. We also acknowledge the
importance of seeking consensus on the parameters of such a study and its implementation.”
Russia and China are formally aligning themselves with the reform of the reserve system. The dictates come from the uber-elite who own the BIS/IMF system. I believe ‘we’ will see some big changes after April.
Stiglitz basically said that the reform will occur before 2013, but may occur this year.
This is a major major retooling of international finance with the appropriate tyrannical moves in place to support the retooling through the implementation of ‘terrorist’ state tactics and weapons. (The DHS, the Patriot Act, the militarization of the police, et.al.)
We should not be surprised. It is all laid out plan on the table: we just don’t get to sit at the table with the elite and sup.
@snoot
Wow frances that G20 exclusion of the FED is a surprise but could it be due to the domestic political heat that the FED is dealing with as it is considered a arm of state by Americans while the IMF is considered a international body.
When were these supranational bodies represented on the G20 , was it since its inception and could this be the real reason that the G7 being sidelined.
@Gordo
That’s what’s China doing demanding banks to hold more reserves instead of hiking interest rates cause that would encourage the hot money.
Since the criminal banks make their money that way with the extreme low cheap funny money I suspect that the U.S. will do the same. So even in 2011 they wont Higher the rates or don’t raise it substantially but just urge to hold more money also a way to switch that for their hidden debt without the public knowing.
The Hamster tells all….
http://www.youtube.com/watch?v=Sqwd_u6HkMo&
BTW big fan of you guyz….keep up the great work Max & Stacy…. as we know…Peak Oil’s a comin…..
http://www.guardian.co.uk/business/2010/feb/07/branson-warns-peak-oil-close
@ronron
sorry to hear about your brother,
I would hate to lose my favorite debate/rant partner,
me and my oldest brother have been at ‘it’ for years,
ever since he got back from the navy he’s been spoutin about thom friedman,
the last place i thought you’d hear all this every man for himself nonsense is in the military, aren’t they supposed to be more of a team effort? Not anymore.
It is every man for himself. Love the dumb bastard to death though, without family we really have nothing, that’s something these big time crooks will never learn.
Why is the European Central Bank considered an institutional member of the G20, but the Federal Reserve bank is not?
http://www.g20.org/146.aspx
Institutional members
European Central Bank
International Monetary Fund
The World Bank
Financial Stability Board
Basel Committee on Banking Supervision
@frances snoot
“Germany and China want to reform the international financial system and ensure concrete results at a meeting of leaders from the Group of 20 nations in April, they said in a joint statement on Thursday.””
I do not think that Germany and China are going to dictate anything.
I would expect a backlash against Trade in general, maybe a year out as the last of the idiots realize that none of the shell games are doing any good.
“as it is fixed and fettered
in story brave and bold,
thus linked and truly lettered,
as was loved in the land of old.”
http://www.g20.org/97.aspx
@Namarama
What is your take on George Lees resignation today and what was his motive
Also today the IMF gave some critical comments about the NAMA scheme which was overshadowed by Lees resignation.
yes are old friend donald.
@underfunded. the diet ones are aspertane. deadly on purpose.
@ron
Aspartame was ‘ramrodded through the approval process by Donald Rumsfeld, who later went to work for the PR firm representing Searle (the company that first marketed the chemical)’
http://dorway.com/dorwblog/the-sum-of-it-all/
Rummy the ramrodder strikes again!
@underfunded yes soda. another reason to boycott all softdrinks. there sweetened with GMO corn.
@Stacey:
“We are still at the very, very, very beginning of the global debt collapse. Until all this debt that can’t be paid is written off, we are going to be trapped in this state for decades.”
Are you denying that there is a reform ongoing at the highest levels of finance towards an international clearing union and sdr/reserve system? The schedule for implementation of the new system is set to occur within years (if not within the context of months), not decades.
“We” are not making the choices.
“Germany, China: want int’l financial system reform
Thu Jan 29, 2009 7:25am EST
BERLIN, Jan 29 (Reuters) – Germany and China want to reform the international financial system and ensure concrete results at a meeting of leaders from the Group of 20 nations in April, they said in a joint statement on Thursday.”
http://www.reuters.com/article/idUSLT74266720090129
“35. Werecognize that increases in global liquidity play a useful role in overcoming the
financial crisis. Therefore, we strongly support and call for early implementation of the
new general special drawing right (SDR) allocation of $250billion. We also call for the
urgent ratification of the fourth amendment to the IMF Articles of Agreement for a special
one-time allocation of SDRs, as approved by the IMF Board of Governors in September
1997. We recognize the need for keeping under review the allocation of SDRs for
development purposes. We also recognize the potential of expanded SDRs to help increase
global liquidity in response to the urgent financial shortfalls caused by this crisis and to
help prevent future crises.This potential should be further studied.
36. The crisis has intensified calls by some States for reform of the current global reserve
system to overcome its insufficiencies. We acknowledge the calls by many States for
further study of the feasibility and advisability of a more efficient reserve system,
including the possible function of SDRs in any such system and the complementary roles
that could be played by various regional arrangements. We also acknowledge the
importance of seeking consensus on the parameters of such a study and its implementation.
Werecognize the existence of new and existing regional and subregional economic and
financial cooperation initiatives to address, inter alia, the liquidity shortfalls and the
short-term balance-of-payment difficulties among its members.”
http://www.un.org/ga/search/view_doc.asp?symbol=A/RES/63/303&Lang=E
The OTHER Reason that the U.S. is Not Regulating Wall Street
The WTO
“And Foreign Policy magazine ran an article entitled “The Next Big Thing: Neomedievalism”, arguing that the power of nations is declining, and being replaced by corporations, wealthy individuals, the sovereign wealth funds of monarchs, and city-regions.”
http://www.washingtonsblog.com/2010/02/other-reason-that-us-is-not-regulating.html
@ronron
you mean soda pop?
I hear that diet stuff is especially deadly and addictive.
off topic. lost big brother 6 months ago to pancreatic cancer. just read a story @rawstory about pop causing this. my brother loved pop. you say one word SG and i’ll fly over and slap you.
I think I should print up a fresh batch these!
http://www.utilityfog.info/blog/graphics/norton_money.jpg
The Fed’s “Exit Plan” Is Just Another Secret Gift To Wall Street
“And now it’s going to get even better to be a bank.
Why?
Because the first part of the Fed’s exit plan will reportedly be to increase the amount of interest the Fed pays on “excess reserves.”
Banks are required to keep a certain percentage of their assets in cash at the Federal Reserve. Any cash above this required amount is “excess reserves,” and the Fed is currently paying 0.25% interest on these reserves. The Fed’s exit plan will call for increasing this interest rate, to encourage the banks to keep more money in excess reserves instead of lending it into to the economy and thus expanding the money supply.”
http://finance.yahoo.com/tech-ticker/the-fed%27s-%22exit-plan%22-is-just-another-secret-gift-to-wall-street-420443.html;_ylt=Avux6Qed3cxi_DW.5mLR6fJk7ot4;_ylu=X3oDMTE3b3VmcWEyBHBvcwM3MQRzZWMDYXJ0aWNsZUxpc3QEc2xrA3RoZWZlZHNleGl0cA–?tickers=spy,dia,XLF,qqqq,tlt,uup,^gspc
iS THIS man max’s alter egO??
Brill Says Press+ Software Lets Publishers Levy Web Fees: Video
http://www.youtube.com/watch?v=hC34TbGe6gE&feature=sub
Steven Brill, co-founder of Press+, talks with Bloombergs Margaret Brennan about the company’s software which offers an online payment model to newspaper publishers allowing them to charge users for access to content. Brill also discusses the projected implications for the newspaper industry and the level of control by individual publishers. (Source: Bloomberg)
off-topic, but relevant —
The zero-rupee note:
http://www.fastcompany.com/blog/william-bostwick/architecture-design/compassionate-counterfeiting-ghandi-approved-zero-rupee-bi
Now to get euro and dollar versions of these…
Joseph Stiglitz on Irish radio today
http://www.rte.ie/radio1/todaywithpatkenny/
sorry if previously posted..
And what about Second Lien ? Don’t even ask. It’s about 100% loss.
Expected loss = loss frequency * loss severity, where loss frequency is the number of losses per number of exposures.